Bink’s parent company, Loyalty Angels, has secured commitments for new funding
IN BREIF:
- Existing investors have agreed to provide £7.5m, which include Barclays and Lloyds Banking Group
- Investors have also indicated that they will agree to underwrite a further £1.5m
- The funding will enable Binkn to operate until Q1 2024 after a series of cost-cutting measures last year
What does this mean?
Bink is now said to be confident of its growth prospects, with conversations underway with many potential merchant partners. These are said to include Leon and Itsu. The FinTech is currently run by Mike Jordan an experienced payments industry executive with 15 years' experience at American Express.
